HawK Posted May 29, 2019 Share Posted May 29, 2019 If there was nothing to it the club would have rubbished it imo Why? How does that benefit Ashley? Link to post Share on other sites More sharing options...
STM Posted May 29, 2019 Share Posted May 29, 2019 some guy on totalsport says he lives in Dubai and its seen as seriously bad if the media over there reports something that isn't true and the talk over there is that it could be done as soon as Friday There's no way this Bin Zayed Group would want to lose face with an aborted bid, as the concept of personal dignity, honour and protecting one’s reputation is very important in the Middle East, particularly in the business world. That was always my impression of the culture over there, was quite surprised to hear that anyone with any sort of connections high up would be involved in bullshit like fake bids. well aye but its already happened before with Liverpool They had a "fake bid" for Liverpool? When did this happen? no one has said they made a fake bid? since when did aborted mean fake? Read Trons post. If you cant see the difference between the Liverpool 2bn move and this one... think we have our wires crossed I was talking about what uncle bingo said. I think the bid is real. Ah ok, no worries. Link to post Share on other sites More sharing options...
STM Posted May 29, 2019 Share Posted May 29, 2019 If there was nothing to it the club would have rubbished it imo Why? How does that benefit Ashley? It's about patterns of behaviour. Hes quashed Staveley (who was genuine), and Kenyon (who he was mates with), why wouldnt he have dumped these lot by now. He will be inundated with questions, he could have responded at any time and hasn't. Link to post Share on other sites More sharing options...
Kanji Posted May 29, 2019 Share Posted May 29, 2019 I can't believe I'm going through these articles, but doing just simple diligence here...but submitting a heads of agreement is a fucking official offer. When you agree to terms outlining a deal, it includes the offer price, the closing time-frame, the contingencies (if any) etc Link to post Share on other sites More sharing options...
HawK Posted May 29, 2019 Share Posted May 29, 2019 Would I be right If there was nothing to it the club would have rubbished it imo Why? How does that benefit Ashley? It's about patterns of behaviour. Hes quashed Staveley (who was genuine), and Kenyon (who he was mates with), why wouldnt he have dumped these lot by now. He will be inundated with questions, he could have responded at any time and hasn't. Not until after the story had served its purpose Link to post Share on other sites More sharing options...
STM Posted May 29, 2019 Share Posted May 29, 2019 I can't believe I'm going through these articles, but doing just simple diligence here...but submitting a heads of agreement is a fucking official offer. When you agree to terms outlining a deal, it includes the offer price, the closing time-frame, the contingencies (if any) etc Absolutely. There has been no official bid, apart from the pieces of paper he has signed saying that they agreed a price. Link to post Share on other sites More sharing options...
STM Posted May 29, 2019 Share Posted May 29, 2019 Would I be right If there was nothing to it the club would have rubbished it imo Why? How does that benefit Ashley? It's about patterns of behaviour. Hes quashed Staveley (who was genuine), and Kenyon (who he was mates with), why wouldnt he have dumped these lot by now. He will be inundated with questions, he could have responded at any time and hasn't. Not until after the story had served its purpose Which is? Link to post Share on other sites More sharing options...
Sean Posted May 29, 2019 Share Posted May 29, 2019 some guy on totalsport says he lives in Dubai and its seen as seriously bad if the media over there reports something that isn't true and the talk over there is that it could be done as soon as Friday There's no way this Bin Zayed Group would want to lose face with an aborted bid, as the concept of personal dignity, honour and protecting one’s reputation is very important in the Middle East, particularly in the business world. That was always my impression of the culture over there, was quite surprised to hear that anyone with any sort of connections high up would be involved in bullshit like fake bids. well aye but its already happened before with Liverpool Also with their $2billion Telangana investment agreement too. Always full of promise but is there ever actual proof of investment with these lot Where can we find the talk of it being a scam that you alluded to earlier? This is a bit of a comedy show at the moment..will he, won't he? Does he have the cash...doesnt he? Who is he even (to the journalists at least). Does he even give 2 fucks about Rafa? What have his companies actually done? No-one fucking knows a thing. To be honest all this talk in the media from them isn't a very good sign going forward if this does actually turn out to be true. Coming across very amateurish....a bit like their website. That is a fucking HUGE red flag surely. Link to post Share on other sites More sharing options...
Kanji Posted May 29, 2019 Share Posted May 29, 2019 I can't believe I'm going through these articles, but doing just simple diligence here...but submitting a heads of agreement is a fucking official offer. When you agree to terms outlining a deal, it includes the offer price, the closing time-frame, the contingencies (if any) etc Absolutely. There has been no official bid, apart from the pieces of paper he has signed saying that they agreed a price. You're agreeing with me right? A heads of agreement, signed by both parties, is as close to official as you can get for an offer to purchase an entity or asset or business. You then move to the official purchase & sale agreement that binds everything legally, which can be enforced by law local custom etc. Link to post Share on other sites More sharing options...
Cronky Posted May 29, 2019 Share Posted May 29, 2019 The Staveley bid was genuine, it was just unrealistic. She didn't have the money. She tried and failed to get a group of investors together, not just from the middle east but locally as well. The encouraging thing about this bid is that there's every reason to believe that the buyers have the money. It's not a so-called 'consortium' and I can't see why they should want to embarrass themselves by knowingly issuing false information. My guess is that they may be used to operating in a system where if you have the money and the right connections, you can make something happen without too much delay or scrutiny. They may be thinking that if they've agreed a price and satisfied Ashley that they've got the funds, then it's all over. In practice, there are other procedures and checks that have to be done. It's interesting how Man City have reacted to the latest accusations and investigations on financial malpractice. They seem to be outraged that some tinpot journos and bureaucrats have the temerity to question what they are doing. I wonder whether they're not used to having to kow-tow to that kind of procedure. I'm not a businessman with Middle East experience, so I'm happy to stand corrected. Link to post Share on other sites More sharing options...
Shearergol Posted May 29, 2019 Share Posted May 29, 2019 Would I be right If there was nothing to it the club would have rubbished it imo Why? How does that benefit Ashley? It's about patterns of behaviour. Hes quashed Staveley (who was genuine), and Kenyon (who he was mates with), why wouldnt he have dumped these lot by now. He will be inundated with questions, he could have responded at any time and hasn't. Not until after the story had served its purpose Which is? Rafa’s contract. Signing players. Link to post Share on other sites More sharing options...
jonny1403 Posted May 29, 2019 Share Posted May 29, 2019 I can't believe I'm going through these articles, but doing just simple diligence here...but submitting a heads of agreement is a fucking official offer. When you agree to terms outlining a deal, it includes the offer price, the closing time-frame, the contingencies (if any) etc I work in corporate M&A - heads of terms are not typically understood to be legally binding. It's an understanding of the general agreement between the parties but this can often be one or two pages max with the actual share purchase agreement being 100 pages plus. Often the terms in the HOTs themselves are tweaked slightly as issues arising with the drafting of the SPA. Link to post Share on other sites More sharing options...
Shelveys Hair Posted May 29, 2019 Share Posted May 29, 2019 Its generating tons of clicks so it pays for most of them to take the piss. Link to post Share on other sites More sharing options...
Kasper Posted May 29, 2019 Share Posted May 29, 2019 some guy on totalsport says he lives in Dubai and its seen as seriously bad if the media over there reports something that isn't true and the talk over there is that it could be done as soon as Friday There's no way this Bin Zayed Group would want to lose face with an aborted bid, as the concept of personal dignity, honour and protecting one’s reputation is very important in the Middle East, particularly in the business world. That was always my impression of the culture over there, was quite surprised to hear that anyone with any sort of connections high up would be involved in bullshit like fake bids. well aye but its already happened before with Liverpool Also with their $2billion Telangana investment agreement too. Always full of promise but is there ever actual proof of investment with these lot Where can we find the talk of it being a scam that you alluded to earlier? This is a bit of a comedy show at the moment..will he, won't he? Does he have the cash...doesnt he? Who is he even (to the journalists at least). Does he even give 2 fucks about Rafa? What have his companies actually done? No-one fucking knows a thing. To be honest all this talk in the media from them isn't a very good sign going forward if this does actually turn out to be true. Coming across very amateurish....a bit like their website. That is a fucking HUGE red flag surely. Agree with that. And then I have to remind myself that we're owned by Ashley so I'm fine with some amateur Sheikh having his fun for a while. Link to post Share on other sites More sharing options...
Guest godzilla Posted May 29, 2019 Share Posted May 29, 2019 Would I be right If there was nothing to it the club would have rubbished it imo Why? How does that benefit Ashley? It's about patterns of behaviour. Hes quashed Staveley (who was genuine), and Kenyon (who he was mates with), why wouldnt he have dumped these lot by now. He will be inundated with questions, he could have responded at any time and hasn't. Not until after the story had served its purpose If this wasn't correct he would be straight out as they are stating he has signed a document, he came out against Staveley and Kenyon even though it got nowhere near a bid even being accepted. What purposes would it serve him in not coming out. Honestly stick to what's happened and not twitter shite without a shred of proof Link to post Share on other sites More sharing options...
STM Posted May 29, 2019 Share Posted May 29, 2019 I can't believe I'm going through these articles, but doing just simple diligence here...but submitting a heads of agreement is a fucking official offer. When you agree to terms outlining a deal, it includes the offer price, the closing time-frame, the contingencies (if any) etc Absolutely. There has been no official bid, apart from the pieces of paper he has signed saying that they agreed a price. You're agreeing with me right? A heads of agreement, signed by both parties, is as close to official as you can get for an offer to purchase an entity or asset or business. You then move to the official purchase & sale agreement that binds everything legally, which can be enforced by law local custom etc. Yeah I'm agreeing. Link to post Share on other sites More sharing options...
LV Posted May 29, 2019 Share Posted May 29, 2019 “Sportsmail understands the Premier League have yet to receive anything from the group in relation to a process that would determine if they meet the 'owners and directors test' criteria.” #NUFC “Sources close to the club have confirmed that a 'heads of agreement' document was submitted to the Premier League by Newcastle and was signed by both parties. This, however, informs them that a price has been agreed and does not trigger a formal takeover process.” #nufc “There is actually some bemusement among several sources at the manner in which a group led by Sheik Khaled bin Zayed, and seemingly represented by Kidwai, are conducting their business via the media.” #nufc Hmmm, this is concerning. I was thinking earlier whether all that had been sent to the Premier League was a letter signed by both parties informing them a deal was progressing and to expect further documentation How's it concerning a legal document signed by both parties has been submitted. There is not a cats hell in chance the PL would comment on any documentation received, total bullshit again without any shred of proof. Why don't people understand that there could be legal consequences for fraudulent information being made public. The group named Ashley and stated he has signed legal documentation. If this wasn't true then he would be the first person to come out and dispute this. Honestly man some people :lol: The group said they have submitted proof of funds. The latest story and yeah ok it’s the mail who everyone hates says that only a signed agreement of an intention to do a deal at an agreed price has been received. Big difference. Link to post Share on other sites More sharing options...
B-more Mag Posted May 29, 2019 Share Posted May 29, 2019 Neither here nor there really, but I figured I'd look up the procedures that trigger the owners' and directors' test. Under Rule F.4 of the Rules of the Premier League, Sheikh KbZ would have to give the PL an "Owners’ and Directors’ Declaration" in the form of PL Form 5 at least 10 working days before he becomes a Director (a defined term that includes a controlling owner). Upon submission of that declaration, the PL has 5 working days to tell the club whether the proposed Director is liable or not to be disqualified under the owners' and directors' test. Boring Milner, etc. Link to post Share on other sites More sharing options...
STM Posted May 29, 2019 Share Posted May 29, 2019 Would I be right If there was nothing to it the club would have rubbished it imo Why? How does that benefit Ashley? It's about patterns of behaviour. Hes quashed Staveley (who was genuine), and Kenyon (who he was mates with), why wouldnt he have dumped these lot by now. He will be inundated with questions, he could have responded at any time and hasn't. Not until after the story had served its purpose Which is? Rafa’s contract. Signing players. You have to be a raving lunatic at this stage to believe the conspiracy theory stuff. Theres more holes in it than swiss cheese. Link to post Share on other sites More sharing options...
Kasper Posted May 29, 2019 Share Posted May 29, 2019 I can't believe I'm going through these articles, but doing just simple diligence here...but submitting a heads of agreement is a fucking official offer. When you agree to terms outlining a deal, it includes the offer price, the closing time-frame, the contingencies (if any) etc I work in corporate M&A - heads of terms are not typically understood to be legally binding. It's an understanding of the general agreement between the parties but this can often be one or two pages max with the actual share purchase agreement being 100 pages plus. Often the terms in the HOTs themselves are tweaked slightly as issues arising with the drafting of the SPA. I guess the 50 years of free SD sponsorship clause wasnt in the head of terms. Oops. Link to post Share on other sites More sharing options...
LV Posted May 29, 2019 Share Posted May 29, 2019 “Sportsmail understands the Premier League have yet to receive anything from the group in relation to a process that would determine if they meet the 'owners and directors test' criteria.” #NUFC “Sources close to the club have confirmed that a 'heads of agreement' document was submitted to the Premier League by Newcastle and was signed by both parties. This, however, informs them that a price has been agreed and does not trigger a formal takeover process.” #nufc “There is actually some bemusement among several sources at the manner in which a group led by Sheik Khaled bin Zayed, and seemingly represented by Kidwai, are conducting their business via the media.” #nufc Hmmm, this is concerning. I was thinking earlier whether all that had been sent to the Premier League was a letter signed by both parties informing them a deal was progressing and to expect further documentation How's it concerning a legal document signed by both parties has been submitted. There is not a cats hell in chance the PL would comment on any documentation received, total bullshit again without any shred of proof. Why don't people understand that there could be legal consequences for fraudulent information being made public. The group named Ashley and stated he has signed legal documentation. If this wasn't true then he would be the first person to come out and dispute this. Honestly man some people :lol: And it’s not the PL they’ve got that info from. It’s sources close to the club. Link to post Share on other sites More sharing options...
chicago_shearer Posted May 29, 2019 Share Posted May 29, 2019 Maybe the newspapers should get the business journalists to report on possible acquisitions and not the regional football journalists. The 'ITK' network of agents and backroom staff and other hangers-on are fine for transfer nonsense and training ground gossip, but it's embarrassing that basic facts about this have taken 72 hours to get right. Doesn't help that the club are once again hopeless with communication. Link to post Share on other sites More sharing options...
Kanji Posted May 29, 2019 Share Posted May 29, 2019 I can't believe I'm going through these articles, but doing just simple diligence here...but submitting a heads of agreement is a fucking official offer. When you agree to terms outlining a deal, it includes the offer price, the closing time-frame, the contingencies (if any) etc I work in corporate M&A - heads of terms are not typically understood to be legally binding. It's an understanding of the general agreement between the parties but this can often be one or two pages max with the actual share purchase agreement being 100 pages plus. Often the terms in the HOTs themselves are tweaked slightly as issues arising with the drafting of the SPA. Yeah same here but in the US for a REIT, but an offer to purchase something is never legally binding unless the HOT/HOA/LOI is expressly written as such. But over here in the US, if you submit an LOI to purchase a business/asset, it includes the key terms to consummate a transaction. If both parties agree on it, they move to the contract which can be 100s of pages long. Once that is signed by both parties you work through the stages of DD and Closing and then you're officially closed/sold. I understand that it's different over in the UK and Middle East, so I'm trying to rack my head around the fact that if a heads of term or agreement has been signed by both parties, outlining all the key terms, and whilst still not technically binding, that is an offer to purchase something. What am I missing over in your neck of the woods then in terms of transactions? Link to post Share on other sites More sharing options...
Guest godzilla Posted May 29, 2019 Share Posted May 29, 2019 “Sportsmail understands the Premier League have yet to receive anything from the group in relation to a process that would determine if they meet the 'owners and directors test' criteria.” #NUFC “Sources close to the club have confirmed that a 'heads of agreement' document was submitted to the Premier League by Newcastle and was signed by both parties. This, however, informs them that a price has been agreed and does not trigger a formal takeover process.” #nufc “There is actually some bemusement among several sources at the manner in which a group led by Sheik Khaled bin Zayed, and seemingly represented by Kidwai, are conducting their business via the media.” #nufc Hmmm, this is concerning. I was thinking earlier whether all that had been sent to the Premier League was a letter signed by both parties informing them a deal was progressing and to expect further documentation How's it concerning a legal document signed by both parties has been submitted. There is not a cats hell in chance the PL would comment on any documentation received, total bullshit again without any shred of proof. Why don't people understand that there could be legal consequences for fraudulent information being made public. The group named Ashley and stated he has signed legal documentation. If this wasn't true then he would be the first person to come out and dispute this. Honestly man some people :lol: The group said they have submitted proof of funds. The latest story and yeah ok it’s the mail who everyone hates says that only a signed agreement of an intention to do a deal at an agreed price has been received. Big difference. Your presuming that based on the mail though as it hasn't been clarified what has been submitted, the statement stated that they were in the position to do the 'fit and proper persons' test though. As per Staveley and Kenyon, Ashley would be all over this if this was false as it's using his name direct and stated that he has signed documentation. Link to post Share on other sites More sharing options...
STM Posted May 29, 2019 Share Posted May 29, 2019 I can't believe I'm going through these articles, but doing just simple diligence here...but submitting a heads of agreement is a fucking official offer. When you agree to terms outlining a deal, it includes the offer price, the closing time-frame, the contingencies (if any) etc I work in corporate M&A - heads of terms are not typically understood to be legally binding. It's an understanding of the general agreement between the parties but this can often be one or two pages max with the actual share purchase agreement being 100 pages plus. Often the terms in the HOTs themselves are tweaked slightly as issues arising with the drafting of the SPA. Yeah same here but in the US for a REIT, but an offer to purchase something is never legally binding unless the HOT/HOA/LOI is expressly written as such. But over here in the US, if you submit an LOI to purchase a business/asset, it includes the key terms to consummate a transaction. If both parties agree on it, they move to the contract which can be 100s of pages long. Once that is signed by both parties you work through the stages of DD and Closing and then you're officially closed/sold. I understand that it's different over in the UK and Middle East, so I'm trying to rack my head around the fact that if a heads of term or agreement has been signed by both parties, outlining all the key terms, and whilst still not technically binding, that is an offer to purchase something. What am I missing over in your neck of the woods then in terms of transactions? Well done, you two officially know more than most of the journalists I've been reading all day. Link to post Share on other sites More sharing options...
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